FMC Corp To Sell Certain European Herbicides To Nufarm

 | Nov 07, 2017 08:19PM ET

FMC Corporation (NYSE:FMC) has entered into a definitive agreement with Nufarm Limited to divest a portion of the former’s European herbicide portfolio. Per the deal, FMC Corp.'s SU-class herbicides and Florasulam for post-emergence use for controlling broadleaf weeds in cereals will be acquired by Nufarm.
FMC Corp. will receive $90 million, which includes the purchase of existing product inventory. The divestiture will also satisfy FMC Corp.'s commitments to the European Commission related to its recent purchase of a major portion of DuPont (NYSE:DWDP)'s Crop Protection business.
Shares of FMC Corp. have moved up 72.4% over a year outperforming the 31.3% growth recorded by its

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Zacks Rank & Other Stocks to Consider

FMC Corp. currently carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks in the basic materials space are BHP Billiton (LON:BLT) Limited (NYSE:BHP) , Arkema S.A. (OTC:ARKAY) and Koppers Holdings Inc. (NYSE:KOP) .

BHP Billiton has expected long-term earnings growth of 5.3% and sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Arkema has expected long-term earnings growth of 12.7% and carries a Zacks Rank #2.

Koppers Holdings has expected long-term earnings growth of 18% and carries a Zacks Rank #2.

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